Show notes
Announcer: 00:00 You’retuned in to the Investing for Beginners podcast. Finally, step by step premiuminvestment guidance for beginners led by Andrew and Dave to decode industryjargon, silence crippling confusion, and help you overcome emotions by lookingat the numbers, your path to financial freedom starts now.Dave: 00:36 Welcometo podcast episode tonight. We’re going to have an interesting discussion.We’re going talk about several things tonight. So first off we’re going to talka little about the market and the conditions that it’s in today, and so whatwe’re doing tonight is we’re recording on.We’re going to discuss the market on December 20th, 2018. Talk a little bitabout the market conditions. Then we’re going to segue and talk about my buddyWarren Buffet and one of probably the best speeches you’re ever going to learnabout in regards to investing. And then we have a listener question that Andrewwanted to discuss towards the end, and then we also have a special announcementthat we’ll talk about at the end as well. So why don’t we go ahead and start off by talking about the market conditions. Andrew, why don’t you go ahead andtell us how good or how bad things are right now.Andrew: 01:31 Yeah,it’s really bad right now. Everybody’s freakingout and so I think it’s something we need to address and when I mean everybody,I mean the media, obviously there’s all these reasons for why, why it isbasically, I don’t know how the rest of the year is going to end up what I’veseen historically in December, even if there’s been a strong area you willgenerally see some selling off in December because people have this crazy ideathat you should lock in losses in order to save on taxes. I’ll get liketwo to a deep into a tangent. That’s one of those stupid things that people useas this conventional wisdom, this idea that you should take a loss to savemoney on taxes, but so, so you’ll have some of this December selling off.You’ll see as a result of that and we have had so many other factors in play,but essentially where we closed at the end of 2017 last year with the S&P500, we’re about 200 points under that this year as we record this December20th.